[Dead] Get $500 When You Open a New Chase Business Checking Account

Chase is one of my favorite bank when it comes to bank bonuses. They now have brought back their best $500 bonus for new Business Checking accounts. It is available until available till 6/28/2018. You can get a coupon online but you need to go into a branch to open it.

Offer Requirements

To receive the $500 bonus you need to:

Open a Chase Performance Business Checking account

Deposit $1,000 in new money within 10 business days of account opening and maintain that balance for 60 days

After you have completed all the above checking requirements, bonus will be deposited in your new account within 10 business days. Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

Eligibility

Technically the offer is available nationwide, but you need to open account in branch, so obviously you need to have a branch nearby.

Offer is not available to existing Chase business checking customers and those who have closed accounts within the past 90 days. You can still get this offer if you have a personal checking account.

You can only receive one new business checking account opening related bonus per calendar year and only one bonus per account.

Fees

Chase Performance Business Checking comes with a $30 monthly service fee that is waived when you maintain a combined average daily balance of $35,000 or more in linked business savings (excluding Client Funds Savings accounts), business CDs and other Chase Performance Business Checking® accounts. Monthly service fees cannot be waived on Chase Performance Business Checking® with Interest accounts.

I doubt many people will transfer $35,000 to avoid the fee. However, you could end up paying the monthly fee only for a month or two anyway. The fee is usually waived for the first two months. Then, after you get the bonus, you should be able to downgrade to a Chase Total Business Checking account that’s easier to keep fee-free. This has worked in the past.

If the checking account is closed by the client or Chase within six months after opening, we will deduct the bonus amount for that account at closing.

Getting Matched to the $500 Bonus

Chase is also offering a $300 checking account bonus, until 5/21/2018. If you already applied and opened an account, you are not eligible to go for the $500 bonus now. But, it might be possible to ask to get matched to this higher bonus. The only issues is that the $300 bonus requires a Chase Total Business Checking account ($15 Monthly Service Fee waived with $1,500 balance) and the $500 requires a Chase Performance Business Checking account. Otherwise the requirement are the same.

If they do offer to match you to this better bonus you will be required to upgrade to the Chase Performance Business Checking account. This is not guaranteed, but always worth a try. I opened the account myself with the $300 bonus, and I sent them a message today. I’ll update once I get a response.

Guru’s Wrap-Up

This is the best offer that Chase has for business checking accounts. I would suggest getting your unique code now, even if you don’t apply right away. They often pull the these offers early. Requirements are pretty easy, a $1,000 deposit and five debit purchases. Keeping the account fee free is difficult, but you might get away with paying just one or two monthly fees.